Wednesday, July 30, 2008

Luxury Santana Row Condo $1,225,000

Rare 2 bedroom, 2 bathroom unit facing Santana Row - only two of these exist! This unit has all the amenities of loft units but on one level. Amenities include: 2 parking spaces in secure garage, stainless steel appliances, granite counter tops, double pane windows, inside laundry, corner view, and a generous patio that opens out to a view of the Santana Row shops. You don't want to miss out on such a good opportunity to live in this fun filled area with so much excitement, entertainment and great food. To view this unit, call me at 415-269-6249.

Financial Title Insurance Update

Any open escrows are being transferred to First American Title Company from the closed Financial Title offices. First American was underwriting the title insurance policies of Financial Title, so it seems like it will be a straight-forward process. First American is a strong financial institution with very good reserves. I am sure the insurance regulators will be looking far more closely at the other privately held insurance companies regarding their financial stability.

Financial Title Company Shut Down

It looks like the rumors were true about the financial stability of Financial Title, the flagship of Mercury Companies, Inc. title and escrow empire in California. While Mercury is a privately held company and not publicly traded - their financial stability did not need to be fully disclosed like a public company and hence the rumors only until today's curtain call.

Another Mercury title insurance company, Alliance Title shut their doors in December 2007. Alliance had approximately a 22% market share locally. Most escrows were folded into Financial Title offices. Recently Financial had approximately a 11-14% of market share in the last couple months. This relatively low figure undoubtedly due to a lack of confidence in the financial stability of the mother ship - Mercury.

When someone chooses an insurance carrier, you want to be able to know they will be there long term.

My pick for title services has been Chicago Title, a Fortune 500 public company with over $1.3 Billion in reserves, nationwide and in business for over 160 years. CT is under the huge umbrella of Fidelity National Financial.